Capital / Liquidity

Philippines to Merge Two Large State Lenders

30/03/2023

The merger of LandBank and the Development Bank of the Philippines will create the country’s largest lender by assets.

ESG / Sustainability

Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

30/03/2023

Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

AML / KYC

HKMA, SFC to Host Discussions Between Crypto Firms & Banks

30/03/2023

A roundtable will take place on 28 April at the HKMA to facilitate dialogue and experience sharing regarding opening and maintaining bank accounts.

AML / KYC

Five Banks Searched in French Tax Fraud Probe

29/03/2023

Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

Enforcement

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

Crypto / Digital Assets

Australia: Senator Introduces New Crypto Regulation Bill

29/03/2023

Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

AML / KYC

New Roadmap Proposed to Boost Financial Inclusion in Trade

29/03/2023

The Roadmap identifies areas where coordinated action can make a significant impact, including through accelerated LEI adoption.

Enforcement

Malaysian Court Jails Former Hong Leong Investment Banker

29/03/2023

The former investment banker convinced investors to invest over $390,000 in securities products that did not exist.

Securities / Derivatives

AllianzGI Applies to Open New Fund Business in China

29/03/2023

Allianz already owns 49 percent of a China joint venture. The new licence, if granted, will help it boost its presence in China’s mutual fund market.